Bitcoin market is too stable and have no volatility. Last time it happened was mid January and Bitcoin took a hard dive. Something is about to happen, a big move soon. Could go up, but I think BTC will take a hard drop. You got to keep in mind that when this situation is happening in a bear market (a really stable price for a long period of time), it generally fall. The exact opposite will happen in a bull market.
I will stop being short when I'll see a big V bottom with big big volume.
The Facts :
1) The price didn't move since almost 2 weeks now...
2) Bitcoin is under all it's Moving averages (50, 100, 200 and 300)
3) Price is below the important long turquoise trend line
4) Declining volume shows weakness
5) We can see a big bear flag on the 4h chart
6) BTC is flirting with the 50 weekly simple moving average for days... When you put pressure on a support in a bear market, the support usually don't hold
The next move will probably be powerful.
Stay tuned for more updates guys,
Fred
I will stop being short when I'll see a big V bottom with big big volume.
The Facts :
1) The price didn't move since almost 2 weeks now...
2) Bitcoin is under all it's Moving averages (50, 100, 200 and 300)
3) Price is below the important long turquoise trend line
4) Declining volume shows weakness
5) We can see a big bear flag on the 4h chart
6) BTC is flirting with the 50 weekly simple moving average for days... When you put pressure on a support in a bear market, the support usually don't hold
The next move will probably be powerful.
Stay tuned for more updates guys,
Fred
